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Hidden Unemployment

Hidden unemployment refers to people who are not actively looking for work but who are willing and able to work, and therefore are not counted as part of the official unemployment rate. This can include people who have given up looking for work due to a lack of job opportunities, as well as people who are unable to work but are not officially classified as unemployed, such as students, stay-at-home parents, and people who are unable to work due to disability or illness.

The existence of hidden unemployment can indicate that the official unemployment rate understates the true extent of joblessness in an economy. Some economists believe that measuring hidden unemployment is important because it can provide a more accurate picture of the state of the labour market and the level of economic activity in a country.

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